Piper Jaffray Companies restated their buy rating on shares of Banc of California (NYSE:BANC) in a report published on Thursday morning. Piper Jaffray Companies currently has a $25.00 price target on the bank’s stock.

Other equities research analysts also recently issued research reports about the company. FBR & Co reissued a buy rating and issued a $24.00 price objective on shares of Banc of California in a report on Thursday, October 26th. B. Riley downgraded Banc of California from a buy rating to a neutral rating and cut their price objective for the company from $25.00 to $20.00 in a report on Thursday, February 1st. Zacks Investment Research downgraded Banc of California from a strong-buy rating to a sell rating in a report on Tuesday, January 30th. ValuEngine raised Banc of California from a hold rating to a buy rating in a report on Friday, February 2nd. Finally, BidaskClub raised Banc of California from a sell rating to a hold rating in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $22.60.

Banc of California (NYSE:BANC) opened at $19.10 on Thursday. The firm has a market cap of $966.29, a P/E ratio of 18.73, a PEG ratio of 1.63 and a beta of 0.95. Banc of California has a 52 week low of $17.10 and a 52 week high of $23.40. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.95 and a current ratio of 0.96.

Banc of California (NYSE:BANC) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. The company had revenue of $78.87 million during the quarter, compared to analysts’ expectations of $84.02 million. Banc of California had a net margin of 13.28% and a return on equity of 9.93%. The business’s quarterly revenue was down 31.7% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. equities research analysts predict that Banc of California will post 0.94 earnings per share for the current fiscal year.

In related news, insider John A. Bogler acquired 20,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average price of $19.30 per share, with a total value of $386,000.00. Following the acquisition, the insider now owns 37,500 shares in the company, valued at approximately $723,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.89% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in Banc of California by 13.5% during the 2nd quarter. State Street Corp now owns 3,345,022 shares of the bank’s stock valued at $71,920,000 after purchasing an additional 397,611 shares during the last quarter. Channing Capital Management LLC acquired a new stake in Banc of California during the 3rd quarter valued at $48,607,000. Victory Capital Management Inc. lifted its holdings in Banc of California by 2.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,538,602 shares of the bank’s stock valued at $31,773,000 after purchasing an additional 33,092 shares during the last quarter. EJF Capital LLC lifted its holdings in Banc of California by 19.5% during the 3rd quarter. EJF Capital LLC now owns 1,225,000 shares of the bank’s stock valued at $25,419,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Banc of California by 22.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 929,532 shares of the bank’s stock valued at $19,287,000 after purchasing an additional 170,632 shares during the last quarter.

ILLEGAL ACTIVITY NOTICE: “Banc of California (BANC) Given Buy Rating at Piper Jaffray Companies” was reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://theolympiareport.com/2018/02/11/banc-of-california-banc-given-buy-rating-at-piper-jaffray-companies.html.

About Banc of California

Banc of California, Inc is a financial holding company. The Company is the parent of Banc of California, National Association (the Bank). The Company operates through Commercial Banking; Mortgage Banking, and Corporate/Other segments. As of December 31, 2016, the Bank had 90 California banking locations, including 39 full service branches in San Diego, Orange, Santa Barbara, and Los Angeles Counties.

Analyst Recommendations for Banc of California (NYSE:BANC)

Receive News & Ratings for Banc of California Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banc of California and related companies with MarketBeat.com's FREE daily email newsletter.